On May 20, 4:04Â*pm, "Sid9" wrote:
"bpnjensen" wrote in message
...
On May 20, 3:17 pm, dave wrote:
ZNUYBV wrote:
On May 19, 11:30 am, DEFCON 88 wrote:
On May 19, 8:59 am, dave wrote: ∅baMa∅ Tse Dung
wrote:
One of the many shallow statements that sound good-- if you don't
stop
and think about it-- is that "at some point, you have made enough
money."
. . . . . . . . . . . . .
Amassing wealth beyond your needs is immoral and Unamerican.
Nonsense. Restricting people's freedom to acquire as much wealth as
they want (unless obtained through criminal activity) is immoral and
Unamerican, and reeks of the typical jealousy of success exhibited by
the Communist liberal/"progressive" left.
Family dynasties are Unamerican.
You mean like the Kennedys?
The Kennedy's got their wealth honestly. Â*The Kennedy's inherited
their wealth.
Inherited wealth is the worst kind. Â*Restore the inheritance tax back to
Ronald Reagan era levels.- Hide quoted text -
- Show quoted text -
I won;r argue the basic point, although I have my reservations...but
assuming this is correct...
With one cautionary note -
When people are land-rich and money-poor (forest owners, ranchers,
farmers, wetland owners, other fundamentally responsible stewards), a
large inheritance tax frequently forces the inheritor (who legally has
no choice) to rapidly liquidate the good land to pay the tax bill -
sometimes farmland, sometimes natural habitat or even de facto
wilderness, and this turns it into subdivisons or other nonproductive,
non-habitat land. Â*This unintended consequence has been repeated
countless times, and some provision should be made to forestall this
problem.
.
.
Got any statistics for this claim?
This sounds like the "family farm" story.
Here is at least one website that mentions this effect. If I can, I
will look for others with more substantial details. It is not hard to
imagine this happening; as I mentioned family ranches here in Alameda
County and some sustainable timber lands have been lost to inheritance
tax.
http://www.klt.org/tax.htm
Bruce Jensen